Kim Darwaza Northern Virginia Real Estate

I received an email from  Tammi Lewis of 1st Mariner Mortgage regarding the increase in the FHA monthly mortgage premium.  In an effort to further strenghten FHA's role in providing financing to buyers, HUD is increasing the monthly mortgage insurance premium by a .25 point.  Right now, if a buyer places 3.5% down and uses FHA ...

Effective April 5th, 2010 Increased Upfront Premiums : Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium of 2.25 percent from 1.75%. This policy change will increase premiums for purchase money and refinance transactions, including FHA-to-FHA ...